I Want my new bike!!!!

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bpsmith

Veteran
C2W schemes are not usually offered on discounted bikes or any bike over the £1k mark. If the scheme is for 1 year, then you either buy the bike for its depreciated value at the end, £250 on a £1k bike, or take it as a benefit in kind and pay the tax on that, £50 in my case. I have therefore saved £250 when I got mine. Higher taxpayers save a bit more but pay a bit more at the end on the 1 year scheme.

I think what's being eluded to above is that you may be able to save more than £250 by getting a discount outside of the scheme instead.
 

screenman

Legendary Member
I think this scheme discriminates against the self employed, not that I would buy something like a bike on credit even if it was available.
 

raleighnut

Legendary Member
Wouldn't a better C2W scheme be if you bought a bike for commuting on and sent the receipt to the tax office who then adjusted your tax code to take that expenditure into account. Am I missing something or is that just too simple, all this faffing around with vouchers and not actually owning the bike yourself malarkey could be avoided.
There would have to be a set limit on how often you could do this, say every 3 years or so for each individual but it would remove a lot of the paperwork and for people like me who have never worked for a company that operates a C2W scheme but have cycled to work every day for the past 30 years enable us to get the same income tax breaks as people who do have access to the schemes.
I have actually been cycling to work for longer than that but from 1981-1985 owned a series of generally ratty old unreliable motorcycles and rode those to work on the days when they:
  1. Started in the morning.
  2. Hadn't seized up/holed a piston, (my RD 250c's particular favourite but it did have K&Ns and expansion pipes)
  3. Been stolen by some scrote overnight
  4. Had it's handlebars, footrests and exhaust stolen by some scrote (they had tried to nick the bike but couldn't cut through my new mahoosive chain/padlock)
  5. Been 'stacked' by me in a (probably alcohol induced) bout of Barry Sheene impersonation. :whistle:
But since 1985 I have owned no vehicles other than bicycles (or now Tricycles) and I do detest catching Busses. :cycle: :becool:
 
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